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Movement Towards Visa-Free Regime with EU Is Slow, Medvedev Said

2016-04-26 (23:03)

Russian Prime Minister Dmitry Medvedev has said he’s frustrated with the slow pace ...


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Port of Antwerp Experiences Slight Decline in Freight Volumes

2016-04-28 (22:59)

The port of Antwerp handled 138,905,003 tonnes of freight during the first nine months...


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Container Cargo Turnover at Latvian Ports Increased by 23.8% in January-September

2016-03-26 (23:28)

Container cargo turnover at Latvian ports grew by 23.8% in the fir...


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Customs union.

The customs union represents an agreement of the few countries targeting to a cancelling of the customs duties and customs clearance in trade between the union's participants.

Russia is a participant of EvrAzEs customs union.

The union formation agreement was signed on 6 October 2007 by the three countries: Russia, Kazakhstan and Belarus. Functioning and developing conditions of the union are controlled by the International Committee whose participants are the presidents of these three countries.

In 2009 Customs Union Comittee has finished the preparation of the jural basis for successful functioning of the union. The set of the general documents such as Customs Codex, Unified Customs Tariff and Statut of Court of the customs union was produced.

The leaders of countries-participants tell that they want to expand the union to achieve more comfort in international trade. In the present time the other country, Kirghizia, is dealing with a set of formalities for joining the union.

However, other neighboring countries has still not applied for membership, but the negotiations are being actively held and there are all the prerequisites of the successful expansion of the union's geography in the nearest future. It is supposed to boost CIS trade exchange and develop an effective economic partnership.